Investec's Wealth & Investment saw operating profit leap 35% in the six months to 30 September after enjoying £400m in net flows.
Operating profit rose from £22.9m a year ago to £30.8m for the same period this year, driven by higher average funds under management (FUM), net inflows and improved operating margins.
Operating profit for the 'UK and other' segment of Investec Wealth & Investment rose by 45%, up from £14.2m to £20.7m.
Total FUM stood at £40bn, down from £40.4bn as at 31 March, as the wider group fought to offset the impact of a 16% fall in the South African rand against sterling over the period.
Asset management profits also increased by 6.8% to £71.9m, with net inflows standing at £1.4bn. FUM fell from £69.8bn to £66.2bn.
Overall pre-tax profits decreased 2.3% to £222.8m, with the group attributing the fall to the drop in the rand.
CEO Stephen Koseff said: "We have delivered results at the top end of what we anticipated, despite a sharp fall in the rand without which we would have shown a 13% increase in earnings.
"We have worked hard to deal with many of the legacy issues within the group and will continue to take decisive action in order to ensure Investec is in the right shape to take advantage of the recovery in the world economy and markets."
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